Can anyone help me?
My model is:
var A B G CH CE CT CB I K N RD RL RG Tax D L W XG Y lamdaE lamdaF lamdaH lamdaB lamdaC;
varexo epsilon; %sale de la ecuacion de log(At)
parameters XGs alpha betah betae betab gamma delta rhoG sigma sigmae NU kappa;
XGs = 1;
alpha = 1/3; %Siempre es un tercio
betah = 0.9925; %/12 porque son datos mensuales
betae = 0.94;
betab = 0.902888;
delta = 0.11/4; %Quiero que sea N = 0.4
gamma = 1.42656;
rhoG = 0.01; %persistencia del choque
sigma = 1.1; %u=
sigmae = 0.01; %variacion del choque que nosotros definimos como epsilon. Varia 1%.
NU = 0.85;
kappa = 0.15;
%Especifico el modelo
model;
%Hogares
B + CH + D = W*N + (RD(-1)) * D(-1) + RG * B(-1) - Tax;
1/CH = lamdaH;
lamdaH = betah * lamdaH(1) * RD;
gamma /(1-N) = lamdaH * W;
lamdaH = betah * lamdaH(1) * RG(1);
%Shock al gasto de gobierno
log(XG) = (1-rhoG)*log(XGs) + rhoG*log(XG(-1)) + epsilon; %Epsilon sera choque positivo
%Empresas
CE + W * N + RL * L(-1) + I = Y + L;
Y = XG * ((K(-1)) ^ alpha) * ((N) ^ (1-alpha));
I = K - (1-delta) * K(-1); %-1 define en t-1
L = NU * (K / RL(1));
1/CE = lamdaE;
lamdaE(1) * betae * (alpha * (Y(1)/K) + (1-delta)) + lamdaF * (NU/RL(1)) = lamdaE;
(1-alpha) * Y/N = W;
lamdaE - betae * lamdaE(1) * RL(1) = lamdaF;
%Bancos
CB + RD(-1) * D(-1) + L = RL * L(-1) + D;
(1 - kappa) * L = D;
1/CB = lamdaB;
lamdaB - betab * lamdaB(1) * RD = lamdaC;
betab * lamdaB(1) * RL(1) + lamdaC * (1-kappa) = lamdaB;
%Gobierno
G = rhoG * Y ;
B = G - Tax(-1) + RG * B(-1);
Tax = 1.1*G;
RG/steady_state(RG) = (RG(-1)/steady_state(RG))*(Y/steady_state(Y));
CT = CE + CH + CB ;
end;
initval; %Solo le doy los valores iniciales para que me lleve al EE
XG = 1; %Ya que asi es en el EE
CH = 0.349676;
CE = 0.0624274;
CB = 0.053364;
CT = 0.804972;
B = 2.44278;
I = 0.178185;
K = 5.93949;
N = 0.4;
W = 1.6386;
Y = 0.983157;
lamdaH = 2.85979;
lamdaE = 16.0186;
lamdaF = 0.696756;
lamdaB = 18.7392;
lamdaC = 1.69195;
RD = 1.00756;
RL = 1.01756;
RG = 1.0101;
Tax = 0.5;
D = 4.46531;
G = 0.246746;
L = 4.96146;
Tax = 0.27142;
end;
resid;
steady (solve_algo = 3);
resid;
check;
%EE donde todas las ecuaciones se cruzan y donde todas las ecuaciones se cumplen
shocks; %Despues de el EE quiero calcular el choque
var epsilon = sigmae^2;
end;
stoch_simul(order=1, irf=40, hp_filter=1600, nograph) I CT Y; %Para que no me grafique lo pongo nograph
I got this error:
Impossible to find the steady state.